SOC Magazine

Tips And Tricks To Help When Dealing With Commercial Real Estate

Commercial Real Estate

Generally speaking, there is a much better potential
for larger profits in commercial real estate
than with residential properties.

 

Sometimes, it is hard to know what is a good opportunity for you, though. This article contains information to help you figure out what you need to know to make wise commercial real estate decisions.

Before you buy or sell a commercial property, find out several key economic indicators for the region, including trends in unemployment and income, as well as major employers in the region.

Think about what locations are near where you are thinking of buying. Hot spots are usually around places like hospitals or universities because the surrounding neighborhood is going to be more lively and open with jobs available.

Calm and patience are both sound practices when you are searching for commercial property. Never rush into a particular investment. Going too fast could result in a loss that you could have seen coming had you stopped, researched, analyzed, evaluated, and cross-checked the potential with your desired goals.

It could take you twelve months or longer to get the deal that fits you perfectly. When choosing brokers with whom to work, find out the amount of experience they have dealing with commercial properties.

For better results they should specialize in the specific area that you want to buy or sell in. Sign an exclusive agreement once you’ve found a broker you want to work with.

Net Operating Income, the commercial metric for real estate, needs to be understood. In order to be successful, the resulting number must be positive.

commercial property

Confirm that basic utility services are already
situated at the commercial property.

 

Look for access to water, electricity, gas an a sewer or anything specific to what you intend to use this property for. Try to carefully limit the situations that are specified as event of default criteria prior to executing a lease for commercial property.

The less behaviors you have that constitute default, the less likely it is that you’ll have to deal with a tenant’s default. This is one thing you don’t want to happen.

Prior to listing your property for sale, you should first hire a reputable, professional inspector to go over the place. Have any issue that the inspector finds repaired right away.

When you are comparing different properties, get tour site checklists. Accept the proposal responses from the first round, but be sure to inform the property owners directly if you decide to go further in your inquiries.

Don’t hesitate to let it be known that you are entertaining other options. Telling the property owner that he has competition for your money might inspire him to offer a better price to encourage you to buy from him.

Make sure you know who does emergency maintenance work if you rent commercial property for your business. Speak with your landlord, and ask who is in charge of emergency repair work at your home or office.

Know the phone numbers, and be aware of their response time. Utilize the information given by your landlord to develop a plan for emergencies. This will help you ensure your reputation or customer service is not tarnished while your business is disrupted.

There are different types of commercial real estate brokers. For example, some brokers represent landlords as well as tenants, while others only work with tenants.

You may benefit significantly better from hiring the services of a broker working with tenants exclusively, as he has significantly more experience representing tenants successfully.

These commercial real estate basics should help you make wise investments. Remain flexible and alert as you peruse commercial real estate opportunities. You should be able to recognize some golden opportunities that others don’t spot, and make some profitable deals.

How I Can Sell My House Fast in Phoenix? Our Tips!

house salesPhoenix, Arizona is a sprawling metropolis of housing subdivisions spread out over a huge 75 by 125-mile area.

Many homes are bought and sold each and every day, and there are some that are sold over a period of time, and some are sold right away.

It is possible to sell my house fast Phoenix style if I really need to, and sometimes circumstances call for that method to be employed.

Traditional House Selling

The traditional way to sell a house is to list it with a realtor, get advertised in the Realtor’s multi-listings and sell the house for a profit. Sometimes you can make a good deal of profit this way, but it often takes a good deal of time to have that occur too.

There are situations, however, when you can sell your house right away, even on the same day if your wish. The stipulation is these cases is that you will have to agree to a price on the house that can be as much as 50% of its appraised valuation.

So why, you ask, would anyone be willing to do that? In a situation where a person is way behind on their mortgage, for example, they can avoid foreclosure on the house by selling as a quick cash sale.

This will provide enough money to bring the mortgage payments up to date, and then have enough to put down as a deposit on a rental.

This will give me a place to live, and the mortgage is not anything that I have to worry about anymore. Could I have waited and sold the house in a traditional manner?

Maybe and maybe not, but the cash sale is a sure thing.

Another situation where I might want to sell my house fast Phoenix style would be if I am transferred to another area of the country, and I don’t have time for a traditional sale to happen.

Cash Method of Selling

By opting for the cash method, I can relieve myself from having to pay two mortgage payments, and I will have cash immediately to use for what every purpose I wish.

Still another situation occurs if I were to inherit a house from a relative who dies. Perhaps the house is located in another state and it is not convenient for me to travel there, stay long enough to conduct the sale of the house, and then come home.

With a cash sale, I can move the house right away and not have to wait, while pocketing some much-needed cash. Here, I take care of things right away, and I don’t have a long and drawn our procedure taking up all of my time. Time is money, after all.

While it may seem to be counter-productive to sell a house where you don’t have the opportunity to make a “full profit” on the house, just the fact that you have sold it and you have still pocketed a fairly large amount of cash can make quite a difference.

There are plenty companies and individuals which will be happy to pay you cash for your house as they can then turn around, fix up the house, and flip it for a nice profit.

This gives them the opportunity to earn a profit, and for you to get the house out of your radar, and to be able to pocket some ready cash as well.

Just knowing that I can sell my house fast Phoenix style gives a great deal of comfort in situations where the need for cash right away makes the cash sale a valuable alternative for selling the house in the traditional way, thus having to wait until the sale closed before you get any of your money.

Flexibility & Choices

Having choices available offers people like me more flexibility as far as just what my goals are and the capability to better handle varying circumstances as they come up.

Just knowing that there is a cash market available, gives the seller another option that is available to them, and it can always be a viable alternative.

None of us can predict just how the sale of a house will bring about the desired results, but having a cash option certainly is a good option to have.

Further Reading:

Phoenix Arizona – Wikipedia: https://en.wikipedia.org/wiki/Phoenix,_Arizona

Phoenix Travel Guide – YouTube

City of Phoenix – Gov Webpage – https://www.phoenix.gov/